Och-Ziff Loan Management closed on a $409 million collateralized loan obligation transaction (CLO), OZLM XV. The CLO, arranged by Bank of America Merrill Lynch, will be managed through OZLM and will invest in senior secured bank loans.

Och-Ziff also closed the refinancing of OZLM Funding III. The transaction was placed by Citi and refinances approximately $583 million of the debt tranches in the capital structure.

“We are focused on generating strong performance in our CLOs and look forward to continuing to perform for our investors both in terms of overall portfolio credit quality and distributions to subordinated note holders,” said Brett Klein, executive managing director and head of U.S. Corporate Credit for Och-Ziff.

Och-Ziff is an institutional alternative asset manager, with offices in New York, London, Hong Kong, Mumbai, Beijing, Dubai, Shanghai and Houston.